Essays Banking Rajan

We cannot get carried away by our current superiority in growth, for as soon as we believe in our own superiority and start distributing future wealth as if we already have it, we stop doing all that is required to continue growing...This movie has played too many times in India's past for us to not know how it ends."Think Change India is a curated collection of positive news and stories from online publications across the country.The first essay focused on the choice available to firms between arm's length credit and relationship-based credit.

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The nature of financial systems had witnessed widespread changes in the 1980s, with markets getting deregulated, information becoming more widely available and easier to process, and competition having increased. Treasury Secretary Lawrence Summers called the warnings "misguided" and Rajan himself a "luddite".In 2003, Rajan received the inaugural Fischer Black Prize, given every two years by the American Finance Association to the financial economist younger than 40 who has made the most significant contribution to the theory and practice of just one measure of performance," Rajan told students graduating from the National Institute of Bank Management in Pune last week. We are still one of the poorest large countries in the world on a per capita basis, and have a long way to go before we reasonably address the concerns of each one of our citizens," he added, reported The Economic Times.As the governor of the RBI, Raghuram holds an esteemed position and it's a given that he is bound to enjoy a whole lot of perks.Reserve Bank of India’s 23rd governor, Raghuram Rajan recently featured among Time magazine's '100 Most Influential People in the World'.Terming Raghuram as "India's prescient banker," Time said he is among a rare breed of economic seers who steered India through the global crisis and fallout, playing a large role in making it one of the emerging-market stars of the moment.After having passed out from school he enrolled at Indian Institute of Technology, Delhi, for a bachelor's degree in electrical engineering. He was awarded the Director's Gold Medal as the best all-round student.In 1987 he earned a Post Graduate Diploma in Business Administration from the Indian Institute of Management, Ahmedabad.During the Lok Sabha election campaign, Rajan advised the Congress on its NYAY scheme.Rajan, currently working as the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago has also served as the chief economist of the International Monetary Fund and was hailed as a visionary when he warned against looming economic recession of 2008 back in 2005.


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